Citigroup (C) Plans Branch Makeover as Streamlining Takes Hold

Citigroup (NYSE: C) is planning to revamp the size and technology of its U.S. branches as the company looks to trim costs while appealing to the large consumer banking market.

The WSJ said that Citi will introduce 'compact' branches, which range from 600 to 1,200-square feet in size. The smaller branches will have about three or four full-time employees.

Current Citi branches are about 2,500-square-feet in size with up to nine staffers.

Technology improvements may include touchscreen walls and online terminals.

Citi will make the announcement at Money20/20 on Monday night. Shares are up 0.2 percent.

You May Also Be Interested In

• Progress Software to acquire Domo's assets for $400 million in cash
• B&R Technology Merger Corp. raises $325M in Nasdaq IPO